Industry fears Labor rule will dampen annuity sales

First-quarter annuity sales increased to $56.7 billion, a 7.6% increase year-on-year, driven by a 47.2% increase in fixed annuity sales, a seven-year high, Beacon Research and Morningstar report. Industry groups, however, fear the Department of Labor's fiduciary rule will negatively affect annuity sales, and they have launched court challenges saying the rule attacks annuities.

ThinkAdvisor (6/17)